the painted lanes sections can and likely will be ripped up fairly cheaply.
Bloor Street has only been fully reconstructed for bike lanes between Bathurst and Avenue Road though. the rest of it is all 'just paint' and can be converted quickly and cheaply back to 4 lanes.
The reconstructed parts of Bloor anecdotally don't operate particularly differently than they did beforehand in terms of traffic, as the curb lane was always almost continuously blocked anyway.
Where it is slower is through Central downtown and out eastwards to the Prince Edward Viaduct, which had a wider road pre-lanes and more consistently had 4-lanes of traffic available for cars and already had turn lanes at intersections, unlike further west.